Potential bidders take interest in the Co-op Bank

Will the Bank get a sale?

The Co-op bank has said it’s received a number of takeover approaches from potential bidders.

It said it had received “a number of non-binding proposals”. It has also chosen from “several parties” to continue talks.

The Co-operative Group still has a small stake in the bank, it was rescued in 2013 by a group of hedge funds when its was close to collapse.

Last month the bank reported its fifth annual loss in a row.

As well as this, on Thursday the bank was declared as worthless.

The Co-op Bank put itself up for sale back in February, this came as the firm was unable to reach a strong enough footing to adhere to regulatory requirements.

 

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